SALES of jade in Myanmar have dropped sharply in the past month, said gem dealers at Yangon’s Bogyoke Aung San Market, one of the busiest gem-trading centres in the country.

“Sales have dropped by 50 per cent,” said Daw Wai Wai Myint, an accountant at Top Gem Jewellery Shop, which specialises in jade.

She said the drop is directly related to the lower number of tourists who visit the country during the rainy season.

However, sales were better during previous rainy seasons, she said.

Daw Aye Yae, the sales manager at Top Gem, said that sales increase during the open season – from November to March – and during government-organised gem emporiums, which are held three times a year in Yangon.

“Many jade traders come to Yangon during the emporiums, so sales are always good at those times,” she said.

Daw Mya Mya Thant, the owner of Million Gems and Jewellery, also said sales at her shop have declined by 50 per cent in the past month.

She said the jade market depends on foreign buyers, since people in Myanmar prefer to spend their money on gold.

Daw Mya Mya Thant said the gem emporiums do not affect sales at her store.
“Our target market is tourists, whereas the emporiums have different buyers,” she said.

Some dealers – including a representative from OK Gem, Jade and Jewellery Production Co., Ltd – said the recent declines are normal for the rainy season, and that sales always improve in December and January.